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of state. i also want to acknowledge doug of the senior economic analyst at 9 advisory company -- at my advisory company who did the numbers crunching for this, which is a capacity of mine that has become very rusty. my interest in the issue of what is really happening to the incomes of americans really began in 1988. i was running economic policy in the michael dukakis campaign, and he was making the statement comparing the median income in 1988 and the median income that some significant point in the past, whether it was 10 years or 15 years, and he said the incomes of the american people have stagnated. i went to him, and i said in know, that is really not correct. the median has stagnated, but the incomes of the actual people, as people age, they move from below the median to above the median. you're never really capturing the experience. i spoke to political people, and i said people know their incomes did not stagnate over the last eight years, so when they hear the governor say that, and i tried to make it a political point, which is the way economists get listened to in campaign
revenue increases. this is by the way, one of several things that is upside down. look at doug's proposal. and the spending cuts all happen now. he places sequestration with other spending cuts. even though other analysts say the bank for the buck in terms of the economy for the high-and tax cuts is less than 50 cents on the dollar, and a lot of them are saved. it also would not make economic sense, but my larger point is you must have parallelism and linkage on the tax and spending increases, or we're not going anywhere. >> i think you'd need to be very careful about what kind of expectations. what have you done in the lame- duck? the big difference across the table is not whether we need a big deal, we do. i believe we need a large deal in 2013 for the reasons i said earlier that we are out of time with the rating agencies in particular and international capital markets in general. that big deal will include tax reform and the entitlement reform. republicans will not cut the -- touch the tax code until they're sure they're getting entitlement reforms and democrats have the reverse. we k
right over on this side. >> my name is doug. both of you are expert election watchers of the highest caliber so i was wondering if you can talk about super pacs and the new world of campaign finance. >> i can't wait for the real auts city when all is said and done about this. but as i said a little bit earlier the amount of money that's being spent especially on the republican side has been astro nomcal and the only reason why mitt romney isn't getting outspent by a great margin. at the same time, flooding money into the stms as an outside group is not always particularly helpful. first of all, no matter how smart these groups are -- and believe me, they're a heck of a lot smarter than the outside groups that used to be. they had a cause and they were going to spend a jlion dollars even if it was on some crazy thing. we need more jello-o in schools. that's what we're going to care about. now it's they are strategic, they have their own polling, they have their own media shops. they think they know, ok, here's how we need to move voters to our candidate. this is how we have to help mi
Search Results 0 to 2 of about 3

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